MTN introduces MTN mobile money
By Masahudu Ankiilu Kunateh, Ghanadot
Accra, July 22, Ghanadot - Ghana’s
telecommunications industry giant, MTN has introduced
another unique product known as the “MTN mobile money” into
the country’s competitive telecom industry.
The MTN mobile money, which is a partnership between MTN and
nine banks operating in the
country would allow Ghanaians to
perform a range of basic financial transactions by using
their mobile phone.
Subscribers can reap the benefits of the mobile money
without the need to open or have a bank account.
The service will allow subscribers to have access to money
beyond banking hours time and also gives cash management
freedom to subscribers in line with the MTN’s pay off line.
Launching the mobile money serve in Accra, the Chief
Executive Officer (CEO) of MTN Ghana, Mr. Brett Goschen
observed that “as the economy of Ghana grows and the country
evolves into a middle income nation, there is an increasing
need to change the mode of our transactions, from cash-based
exchanges to more convenient methods which are facilitated
by technology.
Though similar products aiming to ease the public’s payment
transactions exist on the market, most of them serve a small
niche of telecommunications customers and are patronized by
a limited number of people”.
MTN therefore, recognizing how close the average person is
to his or her mobile phone, collaborated with the nine banks
to develop the mobile money service, he added.
According to him, the service provides any mobile phone user
the option to open and operate an electronic wallet
primarily from their phone.
Mr. Goschen emphasized that the introduction of the MTN
mobile money is convenient, accessible, safe and easy
demonstrates the company’s commitment to bringing world
class mobile phone services to subscribers in all parts of
the country.
Indeed, the mobile money platform allows non MTN customers
(even those who do not have a cell phone) to transfer or
receive money by using the services of the Authorised MTN
Mobile Money Merchants with the secured system and processes
conforms to best practices in the industry and highly
regulated by relevant authorities.
The Governor of the Bank of Ghana, Dr. Paul Acquah commended
MTN for the innovation, saying this would help increase the
number of the banking population in the country
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